Dublin, Ireland - Covidien (NYSE: COV), a leading global provider of healthcare products and recognized innovator in patient monitoring and respiratory care devices, today said that it has completed the previously announced acquisition of Oridion Systems Ltd. for an aggregate consideration of approximately $310 million, net of cash and investments acquired.
Pursuant to the terms of the acquisition agreement, Covidien has acquired all of the outstanding capital stock of Oridion Systems, based in Jerusalem, Israel. Oridion develops Microstream® capnography monitors and modules, in conjunction with specialized algorithms, as well as etCO2 breath sampling lines. Together, these products monitor adequacy of ventilation and provide an early indication of airway compromise to make patient care safer and easier.
“The acquisition of Oridion will expand our portfolio with a key monitoring technology,” said Robert J. White, President, Respiratory & Monitoring Solutions, Covidien. “Oridion’s products and technology will complement the Company’s pulse oximeter and monitoring product lines, enabling us to offer a complete portfolio of solutions to monitor respiratory function for our customers.”
Covidien will report the Oridion Systems business as part of its Oximetry & Monitoring product line in the Medical Devices segment.
About Covidien
Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2011 revenue of $11.6 billion, Covidien has 41,000 employees worldwide in more than 65 countries, and its products are sold in over 140 countries. Please visit http://www.covidien.com to learn more about our business.